Penalty for failure to reconcile records: entities must reconcile dematerialised securities or face prescribed penalties. Depositories, participants, issuers, their agents and registered intermediaries must reconcile records of dematerialised securities with securities issued ... Summary
Penalty for failure to reconcile records: entities must reconcile dematerialised securities or face prescribed penalties.
Depositories, participants, issuers, their agents and registered intermediaries must reconcile records of dematerialised securities with securities issued by the issuer as specified by regulations; failure attracts a statutory per-day monetary penalty for the period of non-compliance, subject to an overall statutory cap and amended penalty formulation.
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